{"id":89583,"date":"2026-09-22T16:45:00","date_gmt":"2026-09-22T14:45:00","guid":{"rendered":"https:\/\/trader-magazine.com\/?p=89583"},"modified":"2026-09-24T13:09:12","modified_gmt":"2026-09-24T11:09:12","slug":"adobe-v-oblasti-ai-nabira-na-obratkach-trh-vsak-ocekava-vice-rekordni-ctvrtleti-zastinila-otazka-zpenezeni","status":"publish","type":"post","link":"https:\/\/trader-magazine.com\/cs\/novinky\/adobe-v-oblasti-ai-nabira-na-obratkach-trh-vsak-ocekava-vice-rekordni-ctvrtleti-zastinila-otazka-zpenezeni\/","title":{"rendered":"Adobe v oblasti AI nab\u00edr\u00e1 na obr\u00e1tk\u00e1ch, trh v\u0161ak o\u010dek\u00e1v\u00e1 v\u00edce: Rekordn\u00ed \u010dtvrtlet\u00ed zast\u00ednila ot\u00e1zka zpen\u011b\u017een\u00ed"},"content":{"rendered":"\n

Spole\u010dnost Adobe zve\u0159ejnila v\u00fdsledky za t\u0159et\u00ed \u010dtvrtlet\u00ed fisk\u00e1ln\u00edho roku 2026, kter\u00e9 na prvn\u00ed pohled nab\u00edzej\u00ed p\u0159esn\u011b to, co investo\u0159i od technologick\u00e9 firmy o\u010dek\u00e1vaj\u00ed. Rekordn\u00ed tr\u017eby, dvoucifern\u00fd r\u016fst zisku, v\u00edce ne\u017e miliarda aktivn\u00edch u\u017eivatel\u016f a prudce rostouc\u00ed byznys spojen\u00fd s um\u011blou inteligenc\u00ed. P\u0159esto se v\u00fdsledk\u016fm nepoda\u0159ilo zcela rozpt\u00fdlit pochybnosti trhu. Adobe toti\u017e vstupuje do obdob\u00ed, ve kter\u00e9m ji\u017e nesta\u010d\u00ed pouze uk\u00e1zat, \u017ee u\u017eivatel\u00e9 nov\u00e9 n\u00e1stroje um\u011bl\u00e9 inteligence vyu\u017e\u00edvaj\u00ed. Spole\u010dnost mus\u00ed postupn\u011b dok\u00e1zat, \u017ee rostouc\u00ed z\u00e1jem dok\u00e1\u017ee prom\u011bnit v dostate\u010dn\u011b siln\u00fd a dlouhodob\u011b udr\u017eiteln\u00fd r\u016fst tr\u017eeb. [1]<\/em><\/p>\n\n\n\n

Rekordn\u00ed tr\u017eby potvrzuj\u00ed s\u00edlu z\u00e1kladn\u00edho podnik\u00e1n\u00ed<\/h2>\n\n\n\n

Spole\u010dnost Adobe dos\u00e1hla ve t\u0159et\u00edm \u010dtvrtlet\u00ed rekordn\u00edch tr\u017eeb ve v\u00fd\u0161i 6,76 miliardy USD, co\u017e p\u0159edstavovalo meziro\u010dn\u00ed r\u016fst o 13 % a z\u00e1rove\u0148 p\u0159ekonalo o\u010dek\u00e1v\u00e1n\u00ed analytik\u016f na \u00farovni p\u0159ibli\u017en\u011b 6,70 miliardy USD. Upraven\u00fd zisk na akcii dos\u00e1hl 6,13 USD oproti o\u010dek\u00e1van\u00fdm p\u0159ibli\u017en\u011b 6,09 USD, zat\u00edmco \u010dist\u00fd zisk podle GAAP \u010dinil 1,83 miliardy USD. Provozn\u00ed zisk dos\u00e1hl 2,35 miliardy USD a pen\u011b\u017en\u00ed tok z provozn\u00ed \u010dinnosti vytvo\u0159il rekordn\u00edch 2,52 miliardy USD. D\u016fle\u017eit\u00e1 z\u016fst\u00e1v\u00e1 zejm\u00e9na s\u00edla p\u0159edplatitelsk\u00e9ho modelu. Tr\u017eby z p\u0159edplatn\u00e9ho dos\u00e1hly 6,56 miliardy USD a meziro\u010dn\u011b vzrostly o 14 %. Segment zam\u011b\u0159en\u00fd na kreativn\u00ed a marketingov\u00e9 profesion\u00e1ly p\u0159inesl 4,65 miliardy USD, co\u017e bylo o 13 % v\u00edce ne\u017e p\u0159ed rokem, zat\u00edmco segment firemn\u00edch profesion\u00e1l\u016f a spot\u0159ebitel\u016f vzrostl o 16 % na 1,91 miliardy USD. Celkov\u00e9 ro\u010dn\u00ed opakovan\u00e9 tr\u017eby tak na konci \u010dtvrtlet\u00ed dos\u00e1hly 27,5 miliardy USD. Spole\u010dnost Adobe z\u00e1rove\u0148 pokra\u010dovala ve vracen\u00ed kapit\u00e1lu akcion\u00e1\u0159\u016fm a b\u011bhem \u010dtvrtlet\u00ed odkoupila p\u0159ibli\u017en\u011b 9,5 milionu vlastn\u00edch akci\u00ed.<\/p>\n\n\n\n

Um\u011bl\u00e1 inteligence ji\u017e p\u0159in\u00e1\u0161\u00ed zisky, zat\u00edm v\u0161ak tvo\u0159\u00ed jen malou \u010d\u00e1st celku<\/h2>\n\n\n\n

Nejv\u011bt\u0161\u00ed pozornost si z\u00edskal v\u00fdkon produkt\u016f zalo\u017een\u00fdch prim\u00e1rn\u011b na um\u011bl\u00e9 inteligenci. Jejich ro\u010dn\u00ed opakovan\u00e9 tr\u017eby p\u0159ekro\u010dily 650 milion\u016f USD a meziro\u010dn\u011b vzrostly o v\u00edce ne\u017e 150 %. Samotn\u00e9 ro\u010dn\u00ed opakovan\u00e9 tr\u017eby z aplikace Firefly a bal\u00ed\u010dk\u016f kredit\u016f Firefly se oproti p\u0159edchoz\u00edmu \u010dtvrtlet\u00ed zv\u00fd\u0161ily o 40 %. Adobe z\u00e1rove\u0148 roz\u0161i\u0159uje Firefly daleko za p\u016fvodn\u00ed generov\u00e1n\u00ed obr\u00e1zk\u016f. B\u011bhem \u010dtvrtlet\u00ed p\u0159idala generov\u00e1n\u00ed hudby, \u0159e\u010di a zvukov\u00fdch efekt\u016f a d\u00e1le rozv\u00edjela n\u00e1stroje ur\u010den\u00e9 k automatizaci kreativn\u00edch proces\u016f. Firefly Enterprise si postupn\u011b z\u00edsk\u00e1v\u00e1 pozici i mezi velk\u00fdmi spole\u010dnostmi a Adobe mezi nov\u00fdmi z\u00e1kazn\u00edky zm\u00ednila Disney, Publicis, T-Mobile, Premier League \u010di Tennis Australia. Pr\u00e1v\u011b zde v\u0161ak vyvst\u00e1v\u00e1 hlavn\u00ed ot\u00e1zka sou\u010dasn\u00e9ho investi\u010dn\u00edho p\u0159\u00edb\u011bhu. V\u00edce ne\u017e 650 milion\u016f USD p\u0159edstavuje velmi rychle rostouc\u00ed byznys, av\u0161ak ve srovn\u00e1n\u00ed s celkov\u00fdmi ro\u010dn\u00edmi opakovan\u00fdmi tr\u017ebami ve v\u00fd\u0161i 27,5 miliardy USD z\u016fst\u00e1v\u00e1 jeho pod\u00edl st\u00e1le relativn\u011b n\u00edzk\u00fd. Adobe proto pot\u0159ebuje uk\u00e1zat, \u017ee siln\u00e9 p\u0159ijet\u00ed AI se ve v\u011bt\u0161\u00ed m\u00ed\u0159e prom\u00edtne i do placen\u00fdch slu\u017eeb a vy\u0161\u0161\u00edch tr\u017eeb. [2]<\/p>\n\n\n\n

V\u00edce ne\u017e miliarda u\u017eivatel\u016f d\u00e1v\u00e1 spole\u010dnosti Adobe prostor pro dal\u0161\u00ed monetizaci<\/h2>\n\n\n\n

Jednou z nejd\u016fle\u017eit\u011bj\u0161\u00edch zpr\u00e1v tohoto \u010dtvrtlet\u00ed bylo p\u0159ekro\u010den\u00ed hranice jedn\u00e9 miliardy m\u011bs\u00ed\u010dn\u011b aktivn\u00edch u\u017eivatel\u016f nap\u0159\u00ed\u010d produkty Adobe, p\u0159i\u010dem\u017e jejich po\u010det meziro\u010dn\u011b vzrostl o v\u00edce ne\u017e 20 %. Samotn\u00e9 aplikace Acrobat a Express ji\u017e m\u011bs\u00ed\u010dn\u011b pou\u017e\u00edv\u00e1 v\u00edce ne\u017e 900 milion\u016f lid\u00ed, co\u017e p\u0159edstavuje n\u00e1r\u016fst o v\u00edce ne\u017e 25 %, a po\u010det u\u017eivatel\u016f Acrobat AI Assistant se za pouh\u00e9 jedno \u010dtvrtlet\u00ed zdvojn\u00e1sobil. Velmi rychle roste tak\u00e9 bezplatn\u00e1 u\u017eivatelsk\u00e1 z\u00e1kladna kreativn\u00edch produkt\u016f. Firefly, Express a webov\u00e9 \u010di mobiln\u00ed verze aplikac\u00ed Photoshop, Lightroom a Premiere spole\u010dn\u011b p\u0159ekro\u010dily hranici 100 milion\u016f aktivn\u00edch u\u017eivatel\u016f m\u011bs\u00ed\u010dn\u011b, co\u017e p\u0159edstavuje meziro\u010dn\u00ed n\u00e1r\u016fst o v\u00edce ne\u017e 70 %. Spole\u010dnost Adobe tak c\u00edlen\u011b vyu\u017e\u00edv\u00e1 bezplatn\u00e9 funkce um\u011bl\u00e9 inteligence k roz\u0161\u00ed\u0159en\u00ed sv\u00e9ho dosahu a n\u00e1sledn\u011b se sna\u017e\u00ed p\u0159iv\u00e9st u\u017eivatele k placen\u00fdm slu\u017eb\u00e1m. Rozsah jej\u00edho ekosyst\u00e9mu je p\u0159itom v\u00fdznamnou v\u00fdhodou. Jen prost\u0159ednictv\u00edm aplikace Acrobat u\u017eivatel\u00e9 ro\u010dn\u011b otev\u0159ou v\u00edce ne\u017e 400 miliard dokument\u016f ve form\u00e1tu PDF a spole\u010dnost roz\u0161i\u0159uje sv\u00e9 funkce tak\u00e9 na platformy ChatGPT, Claude, Chrome, Microsoft Edge \u010di WhatsApp. V\u00fdzvou proto nen\u00ed pouze z\u00edsk\u00e1v\u00e1n\u00ed nov\u00fdch u\u017eivatel\u016f, ale zejm\u00e9na zv\u00fd\u0161en\u00ed pod\u00edlu t\u011bch, kte\u0159\u00ed budou ochotni za nov\u00e9 funkce um\u011bl\u00e9 inteligence pravideln\u011b platit. [3]<\/p>\n\n\n\n

Vy\u0161\u0161\u00ed celoro\u010dn\u00ed v\u00fdhled nesta\u010dil k \u00fapln\u00e9mu p\u0159esv\u011bd\u010den\u00ed trhu<\/h2>\n\n\n\n

Spole\u010dnost Adobe po siln\u00e9m \u010dtvrtlet\u00ed zv\u00fd\u0161ila v\u00fdhled na cel\u00fd fisk\u00e1ln\u00ed rok 2026 a nov\u011b o\u010dek\u00e1v\u00e1 tr\u017eby v rozmez\u00ed 26,576 a\u017e 26,626 miliardy USD a upraven\u00fd zisk na akcii v rozmez\u00ed 24,45 a\u017e 24,50 USD. Celkov\u00e9 ro\u010dn\u00ed opakovan\u00e9 tr\u017eby by m\u011bly meziro\u010dn\u011b vzr\u016fst o 10,2 %. V\u00fdhled na \u010dtvrt\u00e9 \u010dtvrtlet\u00ed v\u0161ak byl m\u00e9n\u011b p\u0159esv\u011bd\u010div\u00fd. Spole\u010dnost po\u010d\u00edt\u00e1 s tr\u017ebami v rozmez\u00ed 6,80 a\u017e 6,85 miliardy USD, p\u0159i\u010dem\u017e st\u0159edn\u00ed hodnota tohoto rozmez\u00ed m\u00edrn\u011b zaostala za o\u010dek\u00e1v\u00e1n\u00edm Wall Streetu na \u00farovni p\u0159ibli\u017en\u011b 6,85 miliardy USD. Upraven\u00fd zisk na akcii by m\u011bl dos\u00e1hnout 6,30 a\u017e 6,35 USD. Akcie proto po zve\u0159ejn\u011bn\u00ed v\u00fdsledk\u016f v prodlou\u017een\u00e9m obchodov\u00e1n\u00ed poklesly p\u0159ibli\u017en\u011b o 1,9 %. V\u00fdsledky nav\u00edc prov\u00e1z\u00ed v\u00fdznamn\u00e1 zm\u011bna ve veden\u00ed spole\u010dnosti. Anil Chakravarthy se 1. prosince stane nov\u00fdm prezidentem a gener\u00e1ln\u00edm \u0159editelem, zat\u00edmco dlouholet\u00fd \u0161\u00e9f Shantanu Narayen p\u0159ejde na pozici v\u00fdkonn\u00e9ho p\u0159edsedy. Pro spole\u010dnost Adobe tedy nebude n\u00e1sleduj\u00edc\u00ed obdob\u00ed jen o dal\u0161\u00edm r\u016fstu vyu\u017e\u00edv\u00e1n\u00ed um\u011bl\u00e9 inteligence. Investo\u0159i budou cht\u00edt vid\u011bt, zda nov\u00e1 generace produkt\u016f dok\u00e1\u017ee urychlit r\u016fst tr\u017eeb v dob\u011b, kdy se zvy\u0161uje konkurence v oblasti kreativn\u00edho softwaru a spole\u010dnosti jako Canva \u010di Figma roz\u0161i\u0159uj\u00ed sv\u00e9 vlastn\u00ed n\u00e1stroje um\u011bl\u00e9 inteligence. [4]<\/p>\n\n\n\n

\"V\u00fdkonnost
V\u00fdkonnost akci\u00ed spole\u010dnosti Adobe za posledn\u00edch p\u011bt let* Zdroj: TradingView<\/em>

<\/figcaption><\/figure>\n\n\n\n

Peter Svore\u0148, CEO ApmeFX Trading Europe Ltd.<\/a><\/h2>\n\n\n\n

[1,2,3,4] V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed vych\u00e1zej\u00ed z p\u0159edpoklad\u016f a sou\u010dasn\u00fdch o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 mohou b\u00fdt nep\u0159esn\u00e1, nebo ze sou\u010dasn\u00e9ho ekonomick\u00e9ho prost\u0159ed\u00ed, kter\u00e9 se m\u016f\u017ee zm\u011bnit. Takov\u00e1 prohl\u00e1\u0161en\u00ed nezaru\u010duj\u00ed budouc\u00ed v\u00fdsledky. Jsou spojena s riziky a dal\u0161\u00edmi nejistotami, kter\u00e9 je obt\u00ed\u017en\u00e9 p\u0159edv\u00eddat. V\u00fdsledky se mohou podstatn\u011b li\u0161it od t\u011bch, kter\u00e9 jsou vyj\u00e1d\u0159eny nebo implikov\u00e1ny v jak\u00fdchkoli v\u00fdhledov\u00fdch prohl\u00e1\u0161en\u00edch.<\/p>\n\n\n\n

* Minul\u00e1 v\u00fdkonnost nen\u00ed z\u00e1rukou budouc\u00edch v\u00fdsledk\u016f.<\/p>\n\n\n\n

Zdroje:<\/p>\n\n\n\n

    \n
  1. https:\/\/www.adobe.com\/cc-shared\/assets\/investor-relations\/pdfs\/01906202\/au56y4ter.pdf<\/a><\/li>\n\n\n\n
  2. https:\/\/www.adobe.com\/cc-shared\/assets\/investor-relations\/pdfs\/01906202\/c6yetrerew.pdf<\/a><\/li>\n\n\n\n
  3. https:\/\/www.reuters.com\/business\/adobe-beats-third-quarter-revenue-estimates-2026-09-10<\/a><\/li>\n<\/ol>\n\n\n\n

    *Jedn\u00e1 se o placenou spolupr\u00e1ci<\/p>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    Spole\u010dnost Adobe zve\u0159ejnila v\u00fdsledky za t\u0159et\u00ed \u010dtvrtlet\u00ed fisk\u00e1ln\u00edho roku 2026, kter\u00e9 na prvn\u00ed pohled nab\u00edzej\u00ed p\u0159esn\u011b to, co investo\u0159i od technologick\u00e9 firmy o\u010dek\u00e1vaj\u00ed. Rekordn\u00ed tr\u017eby, dvoucifern\u00fd r\u016fst zisku, v\u00edce ne\u017e miliarda aktivn\u00edch u\u017eivatel\u016f a prudce rostouc\u00ed byznys spojen\u00fd s um\u011blou inteligenc\u00ed. P\u0159esto se v\u00fdsledk\u016fm nepoda\u0159ilo zcela rozpt\u00fdlit pochybnosti trhu. Adobe toti\u017e vstupuje do obdob\u00ed, ve […]<\/p>\n","protected":false},"author":44,"featured_media":89642,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[248],"tags":[4940,4966,5658],"class_list":["post-89583","post","type-post","status-publish","format-standard","has-post-thumbnail","category-novinky","tag-ekonomika","tag-investice","tag-usa"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t